Bitcoin Price Prediction for March 28, 2016
Mar 28, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
No surprises over the weekend for BBA members as the breakout of the 6-hour triangle seemed inevitable last Friday, and indeed materialized as expected despite the lack of a buyable pullback prior to the move.
Once the upper trendline was broken on early Saturday morning, volume began to flow into the market on the bid side which helped pushed price all the way up above 430 $ with in a matter of a couple of hours.
Fast forward two days and the market has done little following the explosive, yet short-lived rally other than creep lower back down into support in order to try to put in another higher low. This is a completely normal and healthy occurrence following a powerful breakout.